Decision details

That Cabinet –

a)     notes the latest Corporate Investment Plan, as set out within Appendix A to item A.3 of the Report of the Corporate Finance & Governance Portfolio Holder;

b)     notes the review of Existing Earmarked Budgets, as set out within Appendix C to the aforesaid report and approves that the Category C budgets highlighted within that Appendix be brought together in order to establish a Corporate Investment ‘Reserve’ totalling £2,557,680;

c)      agrees that £265,000 from the Corporate Investment ‘Reserve’, along with £400,000 of external funding, be used to fund the following four items as set out later on in the Portfolio Holder’s report and Appendix A thereto:

i)        contribution to Freeport East - £160,000

ii)       support the Joint Use Sports Centre Transition - £25,000

iii)      host a ‘leg’ of the Elite Cycling Tour Series - £80,000

iv)      health inequalities capacity and projects - £400,000

d)     authorises Officers, in consultation with the relevant Portfolio Holders, and acting in accordance with the Council’s Scheme of Delegation, to agree the necessary arrangements to implement the above four items; and

e)     agrees to the acceptance of a grant from our Local Health Partner of £1.65m, and requests Officers to continue to develop schemes and projects that can be supported by this funding for consideration within the Corporate Investment Plan process.